The 46th International 500-Mile Sweepstakes was held at the Indianapolis Motor Speedway in Speedway, Indiana on Wednesday, May 30, 1962.

Rufus Parnell "Parnelli" Jones is an American former professional racing driver and racing team owner. He is notable for his accomplishments while competing in the Indianapolis 500 and the Baja 1000 desert race, and the Trans-Am Championship series. In 1962, he became the first driver to qualify over 150 mph. He won the race in 1963, then famously broke down while leading the 1967 race with three laps to go in a turbine car. During his career as an owner, he won the Indy 500 in 1970–1971 with driver Al Unser.